The Tax Amnesty Act (Republic Act No. 11213), signed into law on 14 February 2019, provides for a one-time opportunity to settle estate tax obligations through an estate tax amnesty program that will give reasonable tax relief to estates with deficiency estate taxes. In other words, it provides a clean slate for taxpayers with existing estate tax delinquencies. Here is an introduction to the Tax Amnesty Act, in conjunction with Revenue Regulation No. 6-2019 issued by the Bureau of Internal Revenue (BIR). Continue reading
If you search the internet, there are various write-ups on the rule that any rent increase should not be more than 7% per year. It’s not surprising, however, that some landlords or lessors have increased rents by an amount higher than 7%. So, what is the coverage of the existing rent control law? Continue reading
The recent flooding recently caused by the heavy rainfall brought by Typhoons Ondoy and Pepeng has caused tremendous damage to life and property. Also recently, there are threats to sue the dam operators who were allegedly negligent in releasing water too late and without sufficient warning. Continue reading
In 2008, Baguio City suspended the issuance of permits for motorcades along its roads, citing the a Civil Code provision against splurging during critical times. In 2002, a court in Nueva Vizcaya issued a “temporary restraining order (TRO) preventing the Sangguniang Panlalawigan members from buying 13 luxury vehicles” for their own individual use, citing the same Civil Code provision. Continue reading
When a person dies intestate (which means he left no will) the competent court shall appoint a qualified administrator for the estate. The same rule applies even if the person dies testate (which means that he left a will) if the will failed to name an executor in his will, or if the named executor is incompetent, or refuses the trust, or fails to furnish the bond required by the Rules of Court. One exception to this is the extrajudicial settlement of estate. Continue reading
The settlement of a person’s estate after his/her death, based on our experience, is potentially one of the more bitter litigations. It’s never good to see relatives fighting each other. Some persons, with the intent of controlling the disposition of his/her properties after his/her death (and hopefully prevent fighting among his/her heirs over the properties left), prepare a “last will and testament”. Let’s have a brief discussion on this matter. Continue reading
We previously noted that we are breaking down the discussion on the property relations of the spouses during marriage under the Family Code, as follows: (1) Prenuptial agreements and introduction to property relations between husband and wife; (2) The system of absolute community; (3) Conjugal partnership of gains; (4) Complete separation of property; (5) Donations by reason of marriage; and (6) Comparison of the various types of property relations between spouses. This post is Part 3.
We previously noted that we are breaking down the discussion on the property relations of the spouses during marriage under the Family Code, as follows: (1) Prenuptial agreements and introduction to property relations between husband and wife; (2) The system of absolute community; (3) Conjugal partnership of gains; (4) Complete separation of property; (5) Donations by reason of marriage; and (6) Comparison of the various types of property relations between spouses. This post is Part 2. Continue reading
Among the inescapable facts in life, something which everyone shares regardless of status, race, sex or creed, is death. A person may leave properties (or liabilities) upon death, so a discussion on the basic concepts on estate proceedings is in order.
Inheritance – Inheritance includes all the property, rights and obligations of a person which are not extinguished by his death. (Civil Code, Art. 776) Continue reading